Vancouver, Canada - Redstar Gold Corp. (TSX.V:RGC) ("Redstar" or the "Company") announces results from four step-out core holes completed during its recent eight-hole drilling program on the Shumagin Prospect, located on Redstar's 100% owned Unga Gold Project, Alaska. Results from the first two infill holes were released on June 11th, 2015 and results from the second two infill holes were released on June 23rd, 2015.
- High-grade gold/silver mineralization occurs in drill hole 15SH018 - intersecting 5 metres grading 9.35 g/t gold and 27.62 g/t silver; including 1.0 metre grading 41.2 g/t gold and 130.0 g/t silver.
- The high-grade intercept in 15SH018 occurs 100 metres to the northeast of Redstar's 2011 drill hole 11SH010 (0.55m of 738g/t gold and 408 g/t silver) and 100 metres above historic drill hole BMS-01 (5.49m of 24.02 g/t gold and 19.4 g/t silver).
- High-grade gold/silver mineralization occurs within a 100 metre wide, moderately plunging shoot that has been tested for 500 metres down-plunge (see Long SectionL-L'). The drilling program has thus successfully expanded the known area of high-grade Shumagin-style vein mineralization which continues to remain open at depth and along strike.
- Discovery of an older, Ginguro-style (crustiform-colloform pyrite +/- marcasite) epithermal breccia vein system (see Cross Section C-C') in the footwall below younger Shumagin-style quartz veining in every step out drill hole. This new vein system is anomalous in gold and silver (1-4 g/t gold) where Ginguro-sulfides are encountered (both veins and clasts) and exhibits contrasting epithermal geochemical signatures to Shumagin-style breccia veins with distinctly higher levels of Arsenic (As), Antimony (Sb) and Mercury (Hg).
- Implications that the Shumagin scarp is a structural corridor that has had a long lived history of repeated epithermal veining and high-grade mineralization.
"The high-grade intercept within Shumagin-style veining in drill hole 15SH018 is important as it proves that the area of historic high-grade gold/silver mineralization could be expanded with systematic drilling. In addition, the discovery of the Ginguro-vein is encouraging, as these textures prevail at high-grade gold deposits worldwide, such as at Gold Corp's Cerro Negro Property. The success of our infill and step-out drill holes combined with the discovery of a new vein system at the Shumagin prospect is very exciting and reinforces Redstar's belief that the potential of both the Shumagin prospect and the Unga Project remains largely untapped." said Jacques Vaillancourt, Executive Chairman.
Overall the precious metal-bearing Shumagin vein system has a strike extent of over 1.2 kilometres and a depth of at least 330 metres as outlined by drilling and surface trenching. Recent and historic drilling has outlined an area of high-grade gold mineralization for approximately 500 metres along strike and for approximately 330 metres of dip extent and remains open at depth and along strike (see Long Section).
Drill collar information for holes 15SH015-18 inclusive and completed assay results are located in the Appendices B and D at the end of this release.
The Shumagin Prospect is only one of several noteworthy gold-silver structures found on Redstar's Unga Project and is a high-priority exploration target.
Oblique Aerial View showing exposures of the Shumagin vein system highlighted in red
Inclined Long Section ( L - L') with contoured Grade-Thickness.
Plan map of the Shumagin Prospect showing locations of 2015 drill holes (15SH011 through 15SH018), Cross Sections (A-A' through C-C') and Long Section line (L-L')
Cross Section C-C': Step-out Holes 15SH017 & 15SH018 and Adjacent Historic High-Grade Intercepts
Characteristics of the Shumagin & Ginguro Vein Breccias
The Shumagin epithermal vein system consists of a sub-vertical zone of multi-episodic, cockade-colloform-crustiform banded quartz + adularia + carbonate (rhodocrosite) + green clay, sulphide poor (trace to 1% sphalerite, galena, chalcopyrite) vein, stockwork and vein-breccias. As observed through drilling, the thickest portions of the Shumagin vein system consists of a zone of coalesced veins and vein breccias comprising an "internal breccia vein" that ranges from approximately 7-10 metres in true thickness and is fringed on both the hangingwall and footwall by stockwork and subsidiary breccia veins that expand the width of the vein system in areas to approximately 12-20 metres in true thickness (see Cross Section C-C'). Typically, the internal breccia vein exhibits the highest gold-silver grades and the highest overall grade thicknesses, but high-grade mineralization has also been observed to be associated with syn-mineral dikes within the vein system.
2015 infill drill holes 15SH011 through 15SH014 targeted the Shumagin vein system at various structural elevations across a portion of high-grade gold/silver "envelopes" previously incorporated into a non-43-101 compliant resource estimation. Within this region of the vein system, the internal Shumagin breccia vein occurs along a phreatomagmatic (diatreme) breccia body which had previously brecciated the contact between competent footwall andesite and hangingwall pyroclastic tuffs. The collective Shumagin vein system commonly has completely replaced and/or destroyed the footwall/diatreme breccia/hangingwall contact.
Expansion holes 15SH015 through 15SH018 targeted the down plunge and along strike extensions to this high-grade mineralization associated with the internal Shumagin breccia vein. Within drill holes 15SH015 through 15SH017 the Shumagin vein system bifurcated into stockwork veins ~3-8 metres distal to the footwall/diatreme breccia/hangingwall contact and re-coalesced into the internal breccia vein within drill hole 15SH018. Structural controls to the bifurcation of the Shumagin breccia vein observed in drill holes 15SH015 through 15SH017 are not well understood but it has revealed an older, Ginguro-sulfide textured epithermal breccia vein intact along the footwall andesite/diatreme breccia contact that was not destroyed by late-stage Shumagin-style vein breccias.
The multi-episodic "Ginguro vein breccia" consists of banded, crustiform and colloform black-gray chalcedony, green-clay, carbonate, rare amethyst and Ginguro-sulfides (crustiform-colloform pyrite +/- marcasite +/- arsenopyrite?) that commonly occur as breccia bodies or as margins to vein breccias within footwall andesite (see Figure 1). Ginguro-style sulphides have been observed as clasts within secondary quartz-chalcedony vein breccias containing galena, sphalerite and minor chalcopyrite, and have elevated base metal mineralization. The Ginguro-sulfides exhibit gold values of 1-4 g/t Au with a distinct elevated arsenic (As), antimony (Sb) and mercury (Hg) geochemical signature that does not exist within the Shumagin vein breccias.
The discovery of the Ginguro vein breccia is important as it clearly implicates that the Shumagin Trend, but more specifically, the Shumagin scarp is a structural corridor that has had a long lived history of repeated epithermal veining and high-grade gold and silver mineralization events that remains open for expansion.
Photographs of 2015 drill core exhibiting Ginguro Vein Characteristics
In conjunction with the drill data resulting from this drill program, a Phase-2 drill program planned for later during 2015 will maintain a focus on the Shumagin Prospect concurrent with exploration of other known high-grade gold targets located within the Unga Gold Project.
A major goal of future drill campaigns will be to continue with additional step-out drilling towards the northeast for an additional 350 metres where exposures of the Shumagin vein system returned high-grade intercepts at shallow depths from drilling during the 1980's (DDH26: 37.7g/t gold & 20.6g/t silver over 0.76m and 11.48g/t gold & 15.1g/t silver over 1.21m).
Quality Assurance/Quality Control
The 2015 exploration program at the Unga Project included a rigorous Quality Control/Quality Assurance program, overseen by Jesse C. Grady, Redstar's Vice President of Exploration.
Drill core selected for geochemical analysis was sawn in half, with one-half of the core shipped in a sealed bag to ALS Minerals in Fairbanks for sample preparation. Laboratory pulps were analysed at ALS Minerals in Vancouver where gold was assayed using a 50g fire assay and AAS finish. Gold values in excess of 10 ppm were then re-assayed by 50g fire assay with a gravimetric finish. Samples that contained silver values in excess of 100 ppm were analysed using a HF-HNO3 -HClO4 digestion with an HCL leach and either an ICP-AES or AAS finish.
Redstar's QA/QC protocol consisted of semi-random insertion of calibration standards for gold and blanks at a rate of 3 per 30 samples. Additional blank samples were inserted after any visible gold or after high-grade standards. Two calibration standards and a single lab duplicate was selected on a random basis for each sample shipment and employed in consecutive order within the sample stream.
Jesse C. Grady, MSc, CPG-11592, is a Qualified Person as defined by NI 43-101. Mr. Grady has prepared and approved the technical information contained within this release.
The Unga Gold Project
The Unga Gold Project covers portions of adjacent Unga and Popof Islands, approximately 900 kilometres (550 miles) southwest of Anchorage, Alaska. The project is located near the town of Sand Point which has a commercial airport and port facilities. Access to Unga Island is by boat or helicopter, some 13 kilometres from Sand Point. The topography on the island is mostly undulating hills and the climate quite temperate relative to many areas of Alaska.
For the first time, the Unga Project is now a fully consolidated land package of some 250 sq km (100 sq miles) of mineral rights through an agreement with the Aleut Corp, an Alaskan Native Corporation and a surface land use agreement on Unga Island with the Unga Corporation. Mining claims owned by the Company consists of 16 patented mining claims ("Apollo-Sitka Mine") and six State of Alaska mining claims ("Shumagin Prospect").
About Redstar Gold Corp
Redstar is a junior exploration company focused on high-grade gold exploration in North America. In Alaska, the Company is exploring the 100% owned high-grade Unga Gold Project which was initially acquired in 2011. The Unga Gold Project contains several high grade gold/silver vein systems, two of which, Apollo & Sitka were sites of historic high-grade gold production.
Redstar also owns 30% of the Newman Todd Gold project, in Red Lake, Ontario, Canada and 100% of 10 properties in Nevada. Newman Todd is a high-grade gold discovery along a 1.8 km corridor within the Newman Todd Structure (NTS). The gold mineralization in the NTS remains open along strike and at depth.
Redstar Gold Corporation (RGC: TSX.V)
Ken Booth, President and CEO
800 WEST PENDER STREET
Toll Free: 1-877-310-3330
Redstar Gold Corp.
Paul Durham, Investor Relations
Toll Free: 1-877-310-3330
Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.